A viral claim on social media has stirred concerns that Nigerians without a Tax Identification Number (TIN) may lose access to their bank accounts by January 2026.
The story of Mama Ngozi, a tomato seller in Ajah Market, Lagos, was widely circulated online after she was allegedly told by a bank cashier that she would be unable to operate her bank account without a TIN once the new tax law takes effect on January 1, 2026.
This sparked heated debates across the country, with many Nigerians fearing their accounts might be blocked if they failed to secure a TIN.
What is TIN?
The Tax Identification Number is a 13-digit code issued by the Federal Inland Revenue Service (FIRS) and the Joint Tax Board (JTB) to uniquely identify taxable persons and businesses.
- For individuals, TIN is linked to their National Identification Number (NIN).
- For businesses, TIN is tied to their Corporate Affairs Commission (CAC) registration number.
The Legal Position
The Presidential Fiscal Policy and Tax Reforms Committee clarified that the Nigeria Tax Administration Act requires taxable persons and entities to obtain a TIN by January 2026.
Importantly, this mandate applies only to people or businesses earning taxable income.
- Banks are required to request a TIN from taxable persons.
- Individuals who do not earn taxable income are not required to obtain a TIN.
- Nigerians with an existing TIN don’t need to register for a new one.
The committee further explained that while taxable persons may face restrictions without a TIN, those outside the tax net are unaffected.
Expert View
Tax consultant John Nwokolo told TheCable that owning a bank account does not automatically mean paying tax.
“It’s not that everybody with a bank account must be taxed. If you are not eligible to pay taxes now, you won’t be taxed. Linking TIN to bank accounts is about building a national database,” he said.
What the JTB Says
Head of Corporate Communications at the JTB, Mr. AkpeAdoh, reassured Nigerians that they will not lose access to their bank accounts after January 1, 2026.
He explained that the JTB and FIRS are integrating tax IDs with the NIN for individuals and RC numbers for businesses, making TIN generation automatic.
“We restate for the avoidance of doubt that Nigerians will continue to have access to their bank accounts and financial services beyond January 1, 2026. No one will be denied access for not having a TIN,” Adoh stressed.
FG Gazettes New Tax Laws
Following President Bola Tinubu’s assent on June 26, 2025, the Federal Government gazetted four major tax legislations:
- Nigeria Tax Act 2025
- Nigeria Tax Administration Act 2025
- Nigeria Revenue Service (Establishment) Act 2025
- Joint Revenue Board (Establishment) Act 2025
Highlights include:
- Small businesses (turnover under N100m, assets below N250m) exempt from corporate tax.
- Corporate tax for large firms may be reduced from 30% to 25%.
- New top-up tax thresholds: N50bn (local firms) and €750m (multinationals).
- Five percent annual tax credit for eligible priority-sector projects.
- Firms transacting in foreign currency may pay taxes in naira at official exchange rates.
✅ Bottom Line: Nigerians without taxable income do not need a TIN and will not lose access to their bank accounts in 2026. The requirement applies only to taxable persons and businesses.
